Anti-Trust Law Hollowed Out

A major Supreme Court ruling, Ohio vs American Express, was completely ignored by most media outlets, even though it will have potentially devastating repercussions for consumers in the so-called ‘platform economy’: Uber, Lyft, AirBnB, Facebook, etc. White collar criminologist Bill Black explains the consequences.

I have been postponing reading this for a day or so. Now that I finally got around to looking at this, I find that it about the most horrible economic thing that the Supreme Court could have done.

This is a legislative decision made by the Supreme Court that they have no right to be making. It will go a long way toward increasing income and wealth inequality.

Enforcement of anti-trust laws has been sadly lacking from the executive branch of the government. The solution to much of our income inequality is more stringent anti-trust enforcement. The Supreme Court has just banned this increased enforcement in a very large part of the economy.